“The overall freedom to conduct business is relatively well protected under the transparent regulatory environment.”
By: Wendy Lee, Taiwan News, Staff Writer
TAIPEI (Taiwan News) – Taiwan has climbed to its highest level in world rankings of
economic freedom, according to an annual index released Wednesday by a leading Washington-based think tank, the Heritage Foundation.
Now in its 23rd year, the Economic Freedom Index measures the impact of liberty and free markets around the globe based on 12 quantitative and qualitative factors grouped into four broad categories, including rule of law, government size, regulatory efficiency, and open markets.
In this year’s index, Taiwan jumped three places from 14 to 11 with an overall score of 76.5 out of 100, surpassing the United States in the ranking, which ranked 11th in 2016 and slipped to 17th this year. [FULL STORY]